Question 1

There are needs for forecasting, and some forecasting approaches. There are some technical issues with forecasting in Excel.

In addition to the technical issues with forecasting, organizational issues abound. Many companies do not have the luxury of having employees with the sophisticated technical skills that may be required for good forecasting practice. In contrast to this, there are many companies that do have the expertise among the forecasters, but managers who must make use of the forecasts may not have appropriate comprehension of forecasting opportunities, limitations, and complexities. Given the above, and whatever research you may choose to undertake, how should companies with thousands of Stock Keeping Unit (SKUs) manage their forecasting processes? Take into account both the technical and organizational considerations.

The answer must be in 300 words.